The school district could save up to 20 teacher jobs, officials say, if Town Council agrees to Councilor Robert Vallee's request to give schools $1 million from the stabilization account in July.
Taking action to prevent 47 teacher layoffs is "critical," Vallee said at the council's June 18 meeting, then making a motion to put the subject on Town Council's July 9 agenda for discussion. Only five councilors were present for the meeting, and the item barely made it on the agenda.
In anticipation of possible pressure from various town departments for further funding for operational costs from the stabilization account, the Finance Committee at its June 17 meeting unanimously voted to send a strong message to Town Council that such action is "inappropriate," except for unemployment costs, said Finance Committee Chairman Jim Roche.
The cost of laying off 45 people is about $675,000 in unemployment costs, according to Superintendent Wayne Ogden.
Bonding companies downgrade towns that continually use stabilization funds, Roche said, noting that Franklin has been taking money from that account for operational expenses for the last four years.
"We can't afford our interest rate to go up because we're foolishly spending our stabilization funds," Roche said.
Read the full article in the Milford Daily News here